Biofuels are the only alternatives to fossil fuels… that was the message the head of Novozymes told attendees at COP21 in Paris.
“Solutions exist for many of the problems we face – it’s about the political courage and long-term vision to implement them,” says CEO Peder Holk Nielsen, who is leading Novozymes’ delegation at COP21, in Paris.
“We urgently need a meaningful cost on carbon emissions, designed to effectively alter our behavior, guide our decisions and incentivize solutions.”
Driving down emissions in the transport sector
One of the areas with much room for improvement is the transport sector. There are one billion cars on the planet today and transport accounts for 25% of energy-related CO2 equivalent. By 2050, it is estimated that there will be almost three billion cars on the roads.
Biofuel is the only existing liquid alternative to fossil fuels available at scale today, and holds the potential to provide 30% of all transportation fuels by 2050 – with cellulosic biofuels from waste and agricultural residues reducing emissions by 80-90% compared to gasoline.
“Stable, long-term policies such as biofuel blending mandates are critical to the successful deployment of these low-carbon fuel technologies that should be a core component of each country’s climate strategy,” says Peder Holk Nielsen. “It is critical to reduce emissions significantly within this sector to remain below the 2°C global temperature rise.”
Nielsen added that fossil fuels enjoy global subsidies to the tune of $436 billion every year. Ending those subsidies is one obvious step to cut global carbon emissions.